The S&P/ASX 300 Index (ASX: XKO) is off to a positive start today, rebounding from Friday’s loss.
During early afternoon trade, the ASX 300 is up 0.83% to 7,407 points. Currently, the index is around 3% off its all-time high of 7,625 points reached on 13 August.
Let’s take a look at which ASX companies are the biggest movers today.
Flight Centre Travel Group Ltd (ASX: FLT)
The Flight Centre share price is soaring 9.50% to $21.67, despite no market-sensitive news out of the company today.
The travel agent has taken off since reporting its full-year results to the market last month, highlighting the worst has passed.
Australia’s accelerated vaccination program is on track, with selected international travel set to resume in December. It appears investors are optimistic on Flight Centre shares, preparing for a strong comeback as a more agile business.
IOOF Holdings Limited (ASX: IFL)
The IOOF share price is storming higher with a 5.62% gain to $4.51.
The Australian financial service provider also hasn’t released anything new to the ASX of late. However, the company reported a transformation year for FY21 following the MLC acquisition in May.
As a result, IOOF expects to deliver synergy benefits during FY22 and beyond.
Webjet Limited (ASX: WEB)
Another strong mover for the start of the week is the Webjet share price, up 5.38% to $6.47.
The online travel company announced improved trading performance in its WebBeds business.
Adding to this, the United States is set to lift travel restrictions for fully-vaccinated passengers from 33 countries in November. No doubt, this will positively impact Webjet’s earnings with demand expected to ramp up.
And which ASX 300 companies are heading the other way?
Sandfire Resources Ltd (ASX: SFR)
The biggest loser today is the Sandfire share price, down 11.90% to a 5-month low of $5.48.
The copper-focused mineral exploration and development company advised it completed its institutional placement offer.
Sandfire successfully raised $926 million at an issue price of $5.40 apiece. Along with the planned retail component of $322 million, the combined total equity raise is expected to be $1.248 billion.
The proceeds of the capital raise are being used to acquire the Matsa mining complex in Spain.
Paladin Energy Ltd (ASX: PDN)
Also being weighed down by investors is the Paladin share price, down 6.02% to 78 cents.
Investors are offloading the company’s shares after the spot price of uranium cooled off.
Paladin shares have fallen almost 25% in a week but are still up 490% over the past 12 months. In 2021, its shares have risen close to 220%.